FY2024 EPS Estimates for Alphabet Raised by Zacks Research

Alphabet Inc. (NASDAQ:GOOGL) – Equities research analysts at Zacks Research lifted their FY2024 earnings per share estimates for shares of Alphabet in a research report issued on Tuesday, November 19th. Zacks Research analyst R. Department now anticipates that the information services provider will post earnings per share of $7.89 for the year, up from their prior forecast of $7.55. The consensus estimate for Alphabet’s current full-year earnings is $7.99 per share. Zacks Research also issued estimates for Alphabet’s Q4 2024 earnings at $1.99 EPS, Q1 2025 earnings at $1.96 EPS, Q2 2025 earnings at $2.08 EPS, Q3 2025 earnings at $2.15 EPS, Q4 2025 earnings at $2.36 EPS, FY2025 earnings at $8.55 EPS, Q1 2026 earnings at $2.28 EPS, Q2 2026 earnings at $2.38 EPS, Q3 2026 earnings at $2.69 EPS and FY2026 earnings at $10.07 EPS.

GOOGL has been the topic of a number of other reports. JMP Securities lifted their target price on Alphabet from $200.00 to $220.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 30th. Wedbush restated an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a research report on Thursday, October 24th. BMO Capital Markets restated an “outperform” rating and issued a $217.00 target price (up from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Tigress Financial lifted their price target on shares of Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research note on Thursday, September 26th. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $181.00 price objective on shares of Alphabet in a research note on Wednesday, July 24th. Seven research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company. According to MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $205.90.

Alphabet Stock Performance

NASDAQ GOOGL opened at $175.98 on Thursday. The company’s fifty day moving average is $167.23 and its two-hundred day moving average is $170.40. Alphabet has a 52-week low of $127.90 and a 52-week high of $191.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The firm has a market capitalization of $2.15 trillion, a price-to-earnings ratio of 23.34, a P/E/G ratio of 1.27 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter in the previous year, the firm posted $1.55 earnings per share.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.45%. Alphabet’s payout ratio is currently 10.61%.

Insider Activity

In other news, Director Frances Arnold sold 441 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the transaction, the director now directly owns 16,490 shares in the company, valued at $2,820,779.40. This trade represents a 2.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of the sale, the chief accounting officer now owns 32,017 shares of the company’s stock, valued at $5,136,807.48. This represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 184,295 shares of company stock valued at $30,698,791 over the last 90 days. 11.55% of the stock is owned by company insiders.

Institutional Trading of Alphabet

Institutional investors and hedge funds have recently modified their holdings of the stock. MorganRosel Wealth Management LLC boosted its stake in Alphabet by 3.6% in the second quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock valued at $295,000 after acquiring an additional 57 shares during the last quarter. Hengehold Capital Management LLC lifted its stake in Alphabet by 0.8% in the second quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock valued at $1,316,000 after purchasing an additional 60 shares during the last quarter. Christopher J. Hasenberg Inc lifted its stake in Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares during the last quarter. First PREMIER Bank grew its holdings in Alphabet by 3.8% during the third quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock valued at $275,000 after purchasing an additional 61 shares during the period. Finally, Cutler Investment Counsel LLC increased its position in Alphabet by 1.7% in the third quarter. Cutler Investment Counsel LLC now owns 3,663 shares of the information services provider’s stock worth $607,000 after buying an additional 61 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Alphabet Company Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.